CleanSpark (NASDAQ:CLSK – Get Free Report) announced its quarterly earnings results on Thursday. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04, Zacks reports. CleanSpark had a negative net margin of 38.47% and a negative return on equity of 2.36%.
CleanSpark Stock Performance
CleanSpark stock opened at $12.02 on Friday. The company has a 50 day moving average price of $11.40 and a 200-day moving average price of $11.64. The company has a market capitalization of $3.38 billion, a PE ratio of -20.73 and a beta of 4.25. CleanSpark has a fifty-two week low of $8.04 and a fifty-two week high of $24.72.
Wall Street Analyst Weigh In
Several research analysts have issued reports on CLSK shares. Keefe, Bruyette & Woods started coverage on CleanSpark in a research report on Monday, January 27th. They issued an “outperform” rating and a $19.00 target price on the stock. Macquarie lifted their target price on CleanSpark from $20.00 to $24.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upgraded CleanSpark from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $10.50 to $17.00 in a research report on Tuesday, December 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $27.00 price target on shares of CleanSpark in a research note on Friday. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, CleanSpark currently has a consensus rating of “Buy” and a consensus target price of $22.57.
CleanSpark Company Profile
CleanSpark, Inc operates as a bitcoin miner in the Americas. It owns and operates data centers that primarily run on low-carbon power. Its infrastructure supports Bitcoin, a digital commodity and a tool for financial independence and inclusion. The company was formerly known as Stratean Inc and changed its name to CleanSpark, Inc in November 2016.
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